Completion or Alteration of Instrument

(1)Where a security contains the signatures necessary to its issue or transfer but is incomplete in any other respect

(a)Any person may complete it by filling in the blanks as authorized; and

(b)Even though the blanks are incorrectly filled in, the security as completed is enforceable by a purchaser who took it for value and without notice of such incorrectness.

(2)A complete security which has been improperly altered even though fraudulently remains enforceable but only according to its original terms.